Telsey Advisory Group Raises Ralph Lauren (NYSE:RL) Price Target to $335.00

Key Points

• Telsey Advisory Group has raised Ralph Lauren's price target from $315.00 to $335.00, indicating a potential upside of 13.99% from the current price.
• Ralph Lauren's latest quarterly earnings surpassed estimates, reporting $2.27 earnings per share and revenue of $1.70 billion, reflecting an 8.3% increase compared to the same quarter last year.
• The company has approved a $1.50 billion stock buyback plan, demonstrating the board's belief that the stock may be undervalued.

Ralph Lauren (NYSE:RL - Get Free Report) had its target price upped by investment analysts at Telsey Advisory Group from $315.00 to $335.00 in a research note issued on Monday,Benzinga reports. The firm currently has an "outperform" rating on the textile maker's stock. Telsey Advisory Group's price objective points to a potential upside of 13.99% from the company's current price.

Other analysts have also issued research reports about the stock. Citigroup increased their price objective on shares of Ralph Lauren from $250.00 to $295.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Cowen reiterated a "buy" rating on shares of Ralph Lauren in a research note on Thursday, May 22nd. Wells Fargo & Company boosted their target price on shares of Ralph Lauren from $300.00 to $320.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their target price on shares of Ralph Lauren from $355.00 to $406.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $310.00 target price on shares of Ralph Lauren in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $299.44.

Ralph Lauren Stock Down 1.6%

NYSE:RL opened at $293.88 on Monday. The firm has a market capitalization of $17.73 billion, a P/E ratio of 25.31, a PEG ratio of 2.17 and a beta of 1.53. Ralph Lauren has a 1-year low of $155.96 and a 1-year high of $306.34. The company's fifty day moving average price is $280.83 and its 200-day moving average price is $254.81. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.78 and a quick ratio of 1.33.

Ralph Lauren (NYSE:RL - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The textile maker reported $2.27 earnings per share for the quarter, topping analysts' consensus estimates of $2.00 by $0.27. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.64 billion. Ralph Lauren had a net margin of 10.49% and a return on equity of 31.76%. The business's quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.71 earnings per share. As a group, equities research analysts anticipate that Ralph Lauren will post 12.01 EPS for the current year.

Ralph Lauren declared that its board has approved a stock buyback plan on Thursday, May 22nd that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the textile maker to purchase up to 8.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RL. OMNI 360 Wealth Inc. acquired a new position in Ralph Lauren during the first quarter worth $248,000. Crossmark Global Holdings Inc. boosted its stake in Ralph Lauren by 13.5% during the first quarter. Crossmark Global Holdings Inc. now owns 22,590 shares of the textile maker's stock worth $4,987,000 after buying an additional 2,684 shares during the last quarter. Triglav Skladi D.O.O. acquired a new position in Ralph Lauren during the fourth quarter worth $10,872,000. Truist Financial Corp boosted its stake in Ralph Lauren by 7.8% during the first quarter. Truist Financial Corp now owns 300,837 shares of the textile maker's stock worth $66,407,000 after buying an additional 21,681 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Ralph Lauren by 8.1% during the first quarter. Envestnet Asset Management Inc. now owns 237,479 shares of the textile maker's stock worth $52,421,000 after buying an additional 17,732 shares during the last quarter. 67.91% of the stock is owned by institutional investors and hedge funds.

Ralph Lauren Company Profile

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men's, women's, and children's clothing; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, floor coverings, lighting, tabletop, kitchen linens, floor coverings, dining, decorative accessories, and giftware; and fragrances.

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